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Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
 COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 million tons, Indonesian coal industry sources said. 56.30 percent up year-to year.
China's Indonesian coal imports have jumped up drastically in May by 2.105 MMt compared to its April imports. Chinese coal imports from Indonesia in May was higher than India's imports from Indonesia. India has imported 6.368 million tons in May where’s China has imported about 8.21 MMt which was 1.841 million MT higher.
India has lost its largest Indonesian coal importer status to China first time in the last five months. India was the largest Indonesian coal importer since January 2011 followed by China and other Asian countries. China is expected to import more coal in this month and coming months to increase energy supplies to prevent a worsening of its summer power shortage in seven years.
According to analyst, China faces a power shortfall, and that may extend to 40GW this northern summer, surpassing its 2004 power shortfall. China’s benchmark power-station coal prices rose to the highest since October 2008 as summer electricity demand increased in the world’s fastest-growing major economy, as quoted by Bloomberg its report early this week.
According to Indian coal minister, Indian coal imports may be at 250 million tons per annum by 2016. Coal imports is unavoidable option for Indian utilities due to non availability of economically viable coal from domestic mines. However, according to Indian UMPPs, due to Indonesian government regulation that forces all coal producers must sell coal at government declared monthly prices, would cost them at least US$ 30 per ton higher than they previously budgeted.
"Implementation of this proposed new rule by the Indonesian government ( I.e., the law mandates all coal producers to sell coal at government declared prices) will adversely impact all existing and future imported coal-based power plants in India, including UMPPs," Ashok Khurana, the Director General of the Association of Power Producers, said as reported by an Indian paper.
“When Indian companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipesh Dipu, director, at Deloitte, mydigitalfc reported.
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Indonesia has introduced bench mark pricing mechanism for its coal since February 2010, and it has implemented for the domestic supplies as well export market. The pricing was done on very transparent way using four internationally acceptable coal indices to generate monthly Indonesian coal reference prices for about 62 types of coal including 8 types of bench mark qualities.
The regulation also requires miners to report sales volumes, prices, and buyers every month to the government, allowing it to ensure that the rules are being followed. Violations can lead to revocation of mining permits. The price benchmark aims to prevent firms selling coal to affiliates at low prices to avoid taxes that hurts Indonesia's efforts to collect revenues from its massive commodity exports.
Ministry of Energy and Mineral Resources of Indonesia has set the June 2011 Indonesian Coal Reference Price for thermal coal at US$ 119.03 per ton per ton, which was 1.20 percent higher than May 2011 price of US$ US$ 117.61. Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur (arb) 0.8%, Ash Content (arb) 15.00% and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 30 June 2011.
Indonesian bituminous coal of 5,500 kcal/kg NAR was offered at between $ 108 - 110 a ton, FOB vessel basis this week, slightly up from last week price, traders said.
According to Indian power industry sources opined that Indian UMPPs ( ultra-mega power project) suddenly caught in between as the concept of UMPP was implemented 4 to 5 years back. The large scale industrial houses in India have bided and secured UMPP licenses based on the open market prices /long term coal contracts from Indonesian producers (I.e., pre regulated Indonesian market). Now that Indonesian coal reference price mechanism is in place all the UMPP's are seeking Indian government’s assistance in revising the Power Tariff of UMPP.
Now, the bankers who have funded the projects are bit worried about the rising Indonesian coal costs versus the power sales price which was pegged at pre-regulation prices, Indian banking industry sources said. Now, we need to see whether Indian Government allows the UMPPs to revise the power sale prices based on Indonesian coal reference price mechanism.
As such India cement and steel industries were used to buy coal from South Africa and Australia on index base pricing mechanism since last four to five years. in view of the attractive profit margin levels, entire Indonesian coal producers migrated to Index based pricing for coal contracts . “Where's still many of the Indian utilities and private consumers are still procuring the coal on firm delivered basis. This concept is creating lot of confusion in the Indian trade circles” an Indian trader commented.
77.12 percent of total coal exports in May goes to China, India, South Korea, Japan and Taiwan respectively.
The coal export information within this article is provided by coalspot.com on an "as is" and "as available” basis. All details about, given in good faith, without guarantee. While every care has been taken to ensure the accuracy of information furnished in this article. COALspot.com shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.
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Saturday, 22 December 12
FALL IN CAPE AND PANAMAX RATES DRAG BDI INDEX - VISTAAR
COALspot.com - The freight market further softened this week closing at 700 points (down by 10.71 pct). The cape index continued to fall and w ...
Saturday, 22 December 12
DELTA DUNIA MAKMUR PRODUCED 3.2 MILLION TONS OF COAL IN NOVEMBER' 12
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 28.1 million bcm* (+1.8% YoY) of Overburden in November 2012 while coal production was at 3.2 ...
Friday, 21 December 12
JORC CODE, 2012 EDITION NOW FINALIZED
COALspot.com - The JORC Committee has announced that, the completion of the review of the JORC Code of 2012 Edition.
The JORC Code, 2012 Ed ...
Thursday, 20 December 12
COAL CLOSING IN ON OIL AS WORLD'S TOP ENERGY SOURCE BY 2017
COALspot.com - Coal’s share of the global energy mix continues to rise, and by 2017 coal will come close to surpassing oil as the world’ ...
Thursday, 20 December 12
CHINA'S IRON ORE AND COAL DEMAND WILL SHAPE THE CAPESIZE DRY BULK TRADE DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the best efforts from ship owners to help alleviate the current tonnage oversupply issue in the dry bulk segment, especially in the larger v ...
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- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
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